The impact of luring companies to a community can have a significant economic impact on a region via job creation, increased tax revenue, infrastructure upgrades, supplier clustering and many other positive effects. As a result, the economic development business has become extremely
competitive as communities seek to attract companies. To identify where the most impactful projects landed in 2015, Site Selection Group reviewed more than 4,400 projects announced in the United States to identify the top 20 announced projects that may have the greatest potential impact on the local and regional economies where the project located. This filtering took into consideration the size of the community, capital investment, job creation and other economic impact factors.
Site selection factors evaluated by companies
Companies implement a rigorous site selection process to determine the optimal location for a variety of operation types such as their headquarters, manufacturing plants, distribution centers, call centers, data centers and shared service centers. The following location factors are primary variables evaluated by companies when making the decision on where to locate:
The weighting of importance of these criteria will vary depending on the type of project. As a result, it is critical to understand that what is most important to a data center may be completely different than what is crucial to a distribution center.
The difficulty of measuring economic impact
These projects can impact a community in different ways. There are the immediate benefits such as the creation of construction jobs as well as long term impacts such as an increased tax base and the attraction of suppliers. To help understand the potential impact, Site Selection Group has identified some of the ways that a community may be impacted as follows:
Who were the winners in 2015?
The following projects ranked by number of jobs created were identified by Site Selection Group as some of the most impactful announcements of 2015.
|Faraday Future||Manufacturing||Las Vegas, NV||4,500||$1,000.0|
|Liberty Mutual Insurance||Operations Center||Plano, TX||4,000||$325.0|
|SolarCity||Headquarters||Salt Lake City, UT||4,000||$94.0|
|Sierra Nevada Corp.||Manufacturing||Colorado Springs, CO||2,100||$88.0|
|Polaris Industries||Manufacturing||Huntsville, AL||2,000||$172.0|
|Volvo Cars||Manufacturing||Ridgeville, SC||2,000||$500.0|
|Giti Tire Holdings||Manufacturing||Richburg, SC||1,700||$560.0|
|Barclays||Call Center||Cincinnati, OH||1,500||$9.3|
|American Specialty Alloys||Manufacturing||Pineville, LA||1,450||$1,200.0|
|Mercedes-Benz Vans||Manufacturing||North Charleston, SC||1,300||$500.0|
|Formosa Petrochemical||Manufacturing||St James Parish, LA||1,200||$9,400.0|
|Seaboard Foods||Manufacturing||Sioux City, IA||1,100||$264.0|
|Sanderson Farms||Manufacturing||St Pauls, NC||1,100||$139.0|
|Northern Trust||Business Services||Tempe, AZ||1,000||$95.0|
|Amazon||Distribution Center||San Marcos, TX||1,000||N/A|
|Procter & Gamble||Manufacturing||Martinsburg, WV||700||$500.0|
|SMP Automotive Systems||Manufacturing||Tuscaloosa, AL||650||$150.0|
|Data Center||Stevenson, AL||100||$600.0|
|Data Center||Clarksville, TN||70||$600.0|